Source: AVMA
Veterinarian salaries in the U.S. have risen nominally over the past five years, but when adjusted for inflation, average real income has declined to roughly 2004 levels, according to AVMA economist Dr. Chris Doherty. In 2024, veterinarians earned an average real income of $154,000, while new graduates entering full-time roles averaged $129,000. The 2025 AVMA Senior Survey shows shifting employment trends: only 60% of graduates secured full-time jobs before graduation, a decline since 2022, while those receiving no offers increased.
Most new graduates (73%) entered companion animal practice, earning about $140,000, while equine salaries have recently improved. Educational debt continues to rise, averaging $212,499 among borrowers, with 40% owing over $200,000. The debt-to-income ratio remains 1.4:1. Meanwhile, the pay gap between new graduates and all veterinarians has narrowed from 93% in 2001 to 19% today. Work hours are also trending back toward prepandemic levels.